It is suspected that Sun Yuchen's team continues to convert BTC into WBTC: they transferred 500 BTC to CEX in the early morning and proposed 637 WBTC

According to on-chain analyst Yu Jin, an address suspected to belong to Sun Yuchen's team continues to convert BTC into WBTC: 5 hours ago, 500 BTC (approximately $32.12 million) entered CEX through a deposit address believed to be associated with Sun Yuchen's team. At the same time, 637 WBTC (approximately $40.78 million) were withdrawn from CEX onto the Ethereum chain and sent to the address 0xbE6...1cD.

Since the announcement of changes in WBTC custody rights on August 11th, a total of 3,090 BTC (about $188 million) have been deposited into CEX via an address thought to be linked with Sun Yuchen's team. Subsequently, about 2,590 WBTC (roughly $156 million) were withdrawn from CEX and transferred over to the Ethereum chain at the address 0xbE6...1cD.